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Lancsgent

AUG 04 2019 Price Speculation

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On 9/9/2018 at 12:28 PM, Lancsgent said:

Just cut the price at which I will quit my job to 10 cents. 

Praying to all the gods in this world and the next.

Damn... I wouldn't quit my job even at $1!

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25 minutes ago, RonSwanson said:

Damn... I wouldn't quit my job even at $1!

You need more CSC then or you do a job you enjoy.

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1 minute ago, Lancsgent said:

You need more CSC then or you do a job you enjoy.

Both... kind of lol.  I do need more CSC, but I also work in an environment that I enjoy.  I don't necessarily like my job, but I love the people around me.

I'm working towards dolphin status, but I'm a long way off.  If we stay at these prices, I should be able to get there in the next few months... but even then, depending on your age, a few million dollars in the bank  isn't enough to quit a job, in my opinion.  If you're pushing 50 or older and you don't have any dependents, I could absolutely see it.  If you're in your 20s or 30s though... I could make a pretty good argument against quitting your job with "only" a few million dollars in the bank.

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7 minutes ago, RonSwanson said:

Both... kind of lol.  I do need more CSC, but I also work in an environment that I enjoy.  I don't necessarily like my job, but I love the people around me.

I'm working towards dolphin status, but I'm a long way off.  If we stay at these prices, I should be able to get there in the next few months... but even then, depending on your age, a few million dollars in the bank  isn't enough to quit a job, in my opinion.  If you're pushing 50 or older and you don't have any dependents, I could absolutely see it.  If you're in your 20s or 30s though... I could make a pretty good argument against quitting your job with "only" a few million dollars in the bank.

I quite agree.

However if you're confident you could turn that few million into several passive income streams and quite possibly end up with a higher total asset value than you started with, it's a no brainer.

If one were to spend the capital on coke, holidays, lambos and hookers, then it's a different proposition entirely.

 

Ultimately it's about living life on your own terms and how important that is to you 

Edited by Lancsgent
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3 minutes ago, Lancsgent said:

I quite agree.

However if you're confident you could turn that few million into several passive income streams and quite possibly end up with a higher total asset value than you started with, it's a no brainer.

True true.... 

I think I incorrectly assumed your comment on quitting your job meant retiring, as opposed to quitting your current job to focus on other means of income.  That's my bad!

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56 minutes ago, RonSwanson said:

True true.... 

I think I incorrectly assumed your comment on quitting your job meant retiring, as opposed to quitting your current job to focus on other means of income.  That's my bad!

A few million dollars in your bank and you can't afford to quit your job.

 You're doing it VERY VERY wrong.

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40 minutes ago, MQB said:

A few million dollars in your bank and you can't afford to quit your job.

 You're doing it VERY VERY wrong.

You're either too young, too old, or haven't actually priced out the cost of life to realize how incredibly wrong your statement is.  Could it be done??  Of course it could!  Pretty easily too depending on your life situation!  But with the life and lifestyle that I want for myself... I wouldn't do it.

I'm in my young 30s, which means I have roughly 50-70 years left to live, when taking advances in medicine into consideration.  So let's give it 60 years.
- New House - $750k
- New Truck - $70k
- New Boat - $150k
... There's your first Million out there door, and I've only made 3 purchases.  Each of these purchases also have on-going expenses associated with them that haven't been taken into consideration- utility bills, taxes, insurance, etc.

- Living expenses - $2 Million in the bank, earning 5% interest will get you $100k per year before taxes.  That's roughly what we're currently earning, which means I would be living the exact same lifestyle, albeit in a helluva nice house, that I'm currently living if I were to quit my job.  I don't want to live the exact same lifestyle.  I want to upgrade.  Add children and the cost of a house in the mix, and now you're strapped for cash.  If the market tanks though... there goes your interest income, along with your actual principal, since you're now living off the $2M instead of the associated interest. If that were to happen, we'd have a mere 20 years of income at the exact same salary we currently have, except we also have the cost of maintaining a house, children, etc.


Expenses that I couldn't put a dollar figure on without really digging (I just don't want to take the time for you) but will be substantial...
- Stay at home parent
- Children
- Auto/Home/Health Insurance
- Property taxes
- Traveling
- Taking care of my parents when their health goes
- Philanthropy
- New toys... whatever you're into... cars, bikes, watches, suits, travel camper, ATVs.  When you have that kind of cash, you're gonna wanna spend it on the things you've always wanted but have never been attainable.

There's a reason 70% of lottery winners go bankrupt... because they fall into a trap thinking that a few million dollars will allow them to live this ultra extravagant life where it's all play and no work.  It doesn't. You can see how quickly that cash could go if the market were to go south after making a few large purchases. 

I'm not preaching here though... if you've got a couple million in the bank and you think it'll set you up for life so you can quit your job, go for it!  I'm not here to judge or hold anyone back.  You do you.

 

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I wouldn’t  retire even if I was loaded. I’m in my 30s, I’m not spending the rest of my life dossing around. However having the money to chose what you want to do is not to be sniffed at.

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Checking in for the 04th of the month update.

 

CSC - 06 sats on the soon to close Cfinex with some 04 sat sells earlier today 

BTC - $6,587

NOTES

Looks like the Sandbox will/may get going 01 January following the news from the Delta Summit earlier today.

Earlier than some anticipated and later than others had predicted (myself included)

I'm seeing the upside and using the time to double down. (I will either die very rich or very stupid, time will tell)

Maybe we'll get a new exchange before Jan which would be sweet.

Hoping for 10 cents before year end 2019.

Out.

Edited by Lancsgent
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On 9/19/2018 at 2:40 PM, RonSwanson said:

You're either too young, too old, or haven't actually priced out the cost of life to realize how incredibly wrong your statement is.  Could it be done??  Of course it could!  Pretty easily too depending on your life situation!  But with the life and lifestyle that I want for myself... I wouldn't do it.

I'm in my young 30s, which means I have roughly 50-70 years left to live, when taking advances in medicine into consideration.  So let's give it 60 years.
- New House - $750k
- New Truck - $70k
- New Boat - $150k
... There's your first Million out there door, and I've only made 3 purchases.  Each of these purchases also have on-going expenses associated with them that haven't been taken into consideration- utility bills, taxes, insurance, etc.

- Living expenses - $2 Million in the bank, earning 5% interest will get you $100k per year before taxes.  That's roughly what we're currently earning, which means I would be living the exact same lifestyle, albeit in a helluva nice house, that I'm currently living if I were to quit my job.  I don't want to live the exact same lifestyle.  I want to upgrade.  Add children and the cost of a house in the mix, and now you're strapped for cash.  If the market tanks though... there goes your interest income, along with your actual principal, since you're now living off the $2M instead of the associated interest. If that were to happen, we'd have a mere 20 years of income at the exact same salary we currently have, except we also have the cost of maintaining a house, children, etc.


Expenses that I couldn't put a dollar figure on without really digging (I just don't want to take the time for you) but will be substantial...
- Stay at home parent
- Children
- Auto/Home/Health Insurance
- Property taxes
- Traveling
- Taking care of my parents when their health goes
- Philanthropy
- New toys... whatever you're into... cars, bikes, watches, suits, travel camper, ATVs.  When you have that kind of cash, you're gonna wanna spend it on the things you've always wanted but have never been attainable.

There's a reason 70% of lottery winners go bankrupt... because they fall into a trap thinking that a few million dollars will allow them to live this ultra extravagant life where it's all play and no work.  It doesn't. You can see how quickly that cash could go if the market were to go south after making a few large purchases. 

I'm not preaching here though... if you've got a couple million in the bank and you think it'll set you up for life so you can quit your job, go for it!  I'm not here to judge or hold anyone back.  You do you.

 

@RonSwanson Great point... I read somewhere that to raise a kid to have a "scholar education level" in America takes about 2 million dollars....... 

That's from diapers to dipolma, just for 18 yrs...  A legal adult, SMH 

Edited by Jack-of-Spade
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Guest BlackJack

1cent sometime next year. 

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23 minutes ago, BlackJack said:

1cent sometime next year. 

Damn, I would see that as a MASSIVE achievement and a huge return on investment.

That would put us around 152 sats, which is around a 2400% increase.

Fingers crossed.

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Guest BlackJack
2 minutes ago, Lancsgent said:

Damn, I would see that as a MASSIVE achievement and a huge return on investment.

That would put us around 152 sats, which is around a 2400% increase.

Fingers crossed.

We get Binance. Which I'm hoping we get by the end of the month.

This will give traders a new level of confidence.

A proper exchange is needed right now. 

It will be very easy, you just tell people you can buy on Binance and people are happy.

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2 minutes ago, BlackJack said:

We get Binance. Which I'm hoping we get by the end of the month.

This will give traders a new level of confidence.

A proper exchange is needed right now. 

It will be very easy, you just tell people you can buy on Binance and people are happy.

Binance would be a significant step forward. I hope you're right.

What makes you think any new exchange will be Binance? I sure hope you're right, just wondering what leads you to Binance.

I have to say every time I mention CSC to another crypto enthusiast, the first thing out of their mouth is 'i dont like the exchanges. Never heard of them' The conversation is over.

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Guest BlackJack
4 hours ago, Lancsgent said:

Binance would be a significant step forward. I hope you're right.

What makes you think any new exchange will be Binance? I sure hope you're right, just wondering what leads you to Binance.

I have to say every time I mention CSC to another crypto enthusiast, the first thing out of their mouth is 'i dont like the exchanges. Never heard of them' The conversation is over.

Makes sense.

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6 hours ago, Jack-of-Spade said:

@RonSwanson Great point... I read somewhere that to raise a kid to have a "scholar education level" in America takes about 2 million dollars....... 

That's from diapers to dipolma, just for 18 yrs...  A legal adult, SMH 

Thanks!

I'm not sure about that $2M figure for raising a kid.  Maybe that's all in expenses? Like teacher/coach/professor salaries taken into consideration?  From a parental standpoint, the most recent estimates are at $230k (I recently wrote an article on it lol).  But still... have 2-3 kids and there goes another half a mil! 

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@RonSwanson you could be right brotha!!! 2 million is alot of doe... But when you think about it.. that's only 100,000$ a year... Thats not too much out of the ball park. 

I know money is different through-out the world... America is a very different place in some areas, avg cost of living in NY is 1,200$.. 2 bedroom and 2 bathroom double that to 2,400... × 12 months = 28,000$ per year... That's just living not including personal expenses !!! :shock:

Edited by Jack-of-Spade
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Guest BlackJack

$0.01 Cent next year.

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1 hour ago, Jack-of-Spade said:

@Lancsgent 

I am hoping for 1$ next year. That would be cool!!! 🚀

 

1 hour ago, BlackJack said:

$0.01 Cent next year.


Honestly, as long as the business venture itself proves successful (Successful MGA, sign some clients, afford salaries for employees, etc etc) and they can keep the doors open, I'll be happy.  I consider this investment as getting in on the ground floor of things, so anything upwards from here is a good thing.  At a penny, my $2,000 investment turns into a down payment on a house.  At $1, my life is changed forever.  At worst, we fall flat and I'm out a couple grand... We pick up the pieces, find a new venture and try again - ideally with everyone from here that I've met. You guys are all cool people in my book!

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Guest BlackJack

$0.01 is a no brainier in my book. 

If everything goes great in the sandbox with the BRM

New exchanges, Users of the BRM, Casino's Buying CSC to have on hand for Wins.

 

For $1.00 it would need more of a wide adoption in my opinion.

The CasinoCoin team has plans for LandBased Casinos. Have no idea what that will bring, but that is real exciting. 

Edited by BlackJack

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39 minutes ago, crypto2libertas said:

EOY $0.01 and August 2019 around $0.10

20 sats I'll be ecstatic

:JC_hurrah:

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